The Consumer Price Index (CPI) in Misamis Occidental for the month of March 2023 increased at 123.4 from 123.2 in the month of February 2023. This implies that the same basket of goods and services worth 100 pesos in 2018 has increased by 23.4 percent in March 2023. The CPI is an indicator of the change in the average retail prices of a fixed basket of goods and services commonly purchased by households relative to a base year. In comparison to the CPI recorded in the months of February and March 2022, it has increased from 114.5 and 114.7 to 123.2 and 123.4 in February and March 2023 respectively.

(Figure 1)

Among the commodity groups, Alcoholic Beverages and Tobacco posted the highest CPI in March 2023 at 162.7, followed by Financial Services at 146.0 and Transport at 136.2. On the other hand, Information and Communication at 111.5, Education Services at 105.1 and Recreation, Sport, and Culture at 103.6 were the bottom three commodity groups with the lowest CPI recorded in the month of March 2023.

(Figure 2)

March Inflation Rate (IR) in the Province Remained at 7.6

Provincial inflation in March 2023 remained the same compared to the previous month at 7.6 percent. However, it has increased by 2.7 percentage points in comparison to the inflation rate recorded in March 2022 at 4.9 percent.

(Figure 3)

Purchasing Power of Peso (PPP)

The Purchasing Power of Peso (PPP) shows the real value of peso relative to the base period. The PPP in Misamis Occidental in March 2023 remained the same from the previous month at 0.81, however it is lower by 0.06 compared to 0.87 last March 2022. This means that a consumer’s PhP100.00 in 2018 can only purchase PhP81.00 worth of goods and services in March 2023.

(Figure 4)

Prepared by:

(SGD) MARK LESTHER P. PATIC

Statistical Analyst (COSW)

Approved by:

(SGD) JULIETA M. NACARIO

Supervising Statistical Specialist

Officer-In-Charge

PSA – Misamis Occidental

/RJDG